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Prime Minister’s Employment Generation Programme (PMEGP ) was l aunched in 2008 by merging the two schemes namely Prime Minister’s Rojgar Yojana (PMRY) and Rural Employment Generation Programme (REGP). It is a credit linked subsidy programme with focus on g enerating self-employment opportunities through micro-enterprise establishments in the non-farm sector by helping unemployed youth and traditional artisans . Only new projects are considered for sanction under PMEGP. Eligibility - Any individual, above 18 years of age ; a t least VIII standard pass for projects costing above Rs.10 lakh in the manufacturing sector and above Rs. 5 lakh in the business / service sector. Under the scheme assistance is given in form of subsidy on project cost for setting up a new microenterprise. The maximum cost of the project/unit admissible in manufacturing sector is Rs. 25 lakhs and in the business/service sector, it is Rs. 10 lakhs. After the subsidy provides, the promoter has to contribute at least 5 to 10%, while t he balance amount of the total project cost will be provided by Banks as term loan and working capital . The categories of beneficiary’s rate of subsidy under PMEGP (of project cost) and the contribution are as follows:
Which bank has been assigned the Lead Bank Responsibility for the newly formed district of Maihar in the state of Madhya Pradesh?
Overall responsibility for management of liquidity risk lies with the
Which fintech company received RBI’s authorization to act as a payment aggregator in August 2024?
Under which conditions can a company declare or pay dividends for a financial year as per the Companies Act?
Under the Pradhan Mantri Mudra Yojana (PMMY), collateral-free institutional credit up to _________ is provided by Member Lending Institutions (MLIs).
Where did India Exim Bank open its East Africa Representative Office to enhance trade and business ties?
What is the maximum loan limit under PMEGP for manufacturing businesses?
Consider the following statements with reference to the IFSCA Act:
1) The IFSCA Act was enacted in 2019 to provide for the establishment of...
Which of the following best describes a "bulge bracket" investment bank?